The IRS budget declined by 20% since 2010, even as the number of taxpayers increased by 19%.The pressures of COVID-19 pushed the already-underfunded agency over the edge. “We’re running out of steam,” the revenue agent said.
The IRS, which relies on some software built in the 1960s, is facing a big backlog of paper filings from last year, including 6.2 million unprocessed 1040 forms.have scanning technology, relying instead on humans to open the mail and manually enter information into its system.Worth noting: Despite its limitations, during the pandemic the agency succeeded in getting multiple rounds of stimulus checks out, as well as monthly childcare tax credit payments to parents.Treasury is hoping for new funding to come through, already making staffing moves in anticipation of getting as much as $80 billion from the Biden administration’s Build Back Better legislation, the Treasury official said.The bulk of the issues with tax filing season involve paper filings.
Excuses excuses. They sure don’t delay when they miss a payment from you though…
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